Relx (NYSE:RELX) Shares Gap Up After Analyst Upgrade

Relx Plc (NYSE:RELX)’s stock price gapped up prior to trading on Monday after TD Securities upgraded the stock to a strong-buy rating. The stock had previously closed at $33.80, but opened at $35.67. Relx shares last traded at $35.2620, with a volume of 499,543 shares trading hands.

RELX has been the topic of a number of other reports. Barclays reiterated an “overweight” rating on shares of Relx in a research note on Friday, July 24th. Wall Street Zen raised Relx from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. The Goldman Sachs Group initiated coverage on shares of Relx in a research note on Wednesday, June 3rd. They set a “buy” rating for the company. TD Cowen initiated coverage on Relx in a report on Thursday. They issued a “buy” rating for the company. Finally, Weiss Ratings raised Relx from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its stake in Relx by 26.3% in the 2nd quarter. Tidal Investments LLC now owns 17,289 shares of the technology company’s stock valued at $548,000 after purchasing an additional 3,598 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in Relx in the 2nd quarter valued at about $77,000. Squarepoint Ops LLC purchased a new position in shares of Relx during the second quarter valued at approximately $527,000. Plan A Wealth LLC raised its holdings in Relx by 19.3% in the 2nd quarter. Plan A Wealth LLC now owns 14,168 shares of the technology company’s stock valued at $449,000 after acquiring an additional 2,292 shares during the last quarter. Finally, Syon Capital LLC raised its holdings in Relx by 22.5% in the 2nd quarter. Syon Capital LLC now owns 16,920 shares of the technology company’s stock valued at $536,000 after acquiring an additional 3,107 shares during the last quarter. 15.02% of the stock is owned by hedge funds and other institutional investors.

Relx Stock Performance

The business has a 50 day simple moving average of $34.83 and a two-hundred day simple moving average of $34.10. The company has a current ratio of 0.45, a quick ratio of 0.40 and a debt-to-equity ratio of 5.23.

Relx Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 7th will be paid a $0.2785 dividend. This represents a yield of 157.0%. The ex-dividend date of this dividend is Friday, August 7th.

Relx Company Profile

RELX plc is a global information and analytics company that provides data, research, software and professional services to customers in the scientific, technical, medical, legal, business and government sectors. The company serves organizations and professionals that use specialized information to support research, manage risk, make decisions and improve operational performance.

RELX operates through four principal business areas: Risk, Business Services, Legal, and Scientific, Technical & Medical.